tried out that older version, and I didn't get it at all. However, with 1.7, I was able to change the image to whatever I wanted in seconds. (The text I had to do a hack of the x.exe file, but no biggie.) There are two issues, though.
- there is still a portion of the original welcome screen, as shown here:

- and when shutting down, there is that, plus the "Windows is shutting down" text is inside a small blue box, overlaying the 'wallpaper'. (I would also like to change the text, but don't know what file that is in.)